How to apply

Overview

The details

Course: Economics of Business and Management

Start date: January 2025

Study mode: Full-time

Duration: 1 year

Location: Colchester Campus

Based in: Economics

The MSc Economics of Business and Management is designed for students who may or may not have previous exposure to economics. This course combines training in core economic principles and analysis with real-world applications to business and management, providing ideal training for those seeking a career in a wide variety of industries.

This course will provide theoretical, technical, and communication skills in the economics of business and management. It will also equip you with transferable skills such as the ability to develop and present an argument, and the ability to work independently and in groups.

This course is exclusively available as a January start. In the spring term you will receive training in core economic principles and analysis. These modules are specifically designed with business and management applications in mind. You explore topics including:

The main principles and theories of modern microeconomics
How statistical methods can be used to analyse economic data
Contract theory, incentive theory, and the theory of the firm
How strategic interaction between firms can affect sales and profitability
Real-world applications to business and management decision-making

During the summer term you'll have the opportunity to conduct independent study on a specific topic of interest, through the capstone project. The project can take a variety of forms and offers flexibility in terms of the type of output that is submitted for assessment (e.g., extended literature review, traditional dissertation, blog post, policy memo or podcast).

In the autumn term you'll have the choice of a wide range of optional modules, enabling you to explore different areas of specialisation, such as:

Asset pricing
Banking
Behavioural economics
Game theory

Why we're great.

We're ranked 4th in the UK for research power in economics and econometrics (Times Higher Education research power measure, Research Excellence Framework 2021).
Top 25 in the UK for economics and econometrics in the QS World University Rankings by Subject 2024
Approach the field of economics with a specialised focus on its application to business and management.

Our expert staff

Study and work alongside some of the most prominent economists of our time.

Our researchers are at the forefront of their field and have even received MBEs, with students coming from across the globe to study, research or work with us.

Many of our researchers also provide consultancy services to businesses in London and other major financial centres, helping us to develop research for today's society as well as informing our teaching for the future.

For a full list of research interests, see our Department's staff pages.

Specialist facilities

Take advantage of our wide range of learning resources to assist you in your studies:

Extensive software for quantitative analysis is available in all computer labs across the university
Access a variety of economics databases and multiple copies of textbooks and e-books in the Albert Sloman Library

Your future

After completing your masters, you may wish to extend your knowledge with a research degree – many Essex graduates decide to stay here for further study.

Alternatively, our course also prepares you for employment; recent surveys have shown that higher degree graduates are more likely to obtain jobs at professional or managerial level.

Recent postgraduate Department of Economics graduates have gone on to work for a range of high-profile organisations, including

The Ministry of Finance
HM Treasury
The Work Foundation
Fitch Ratings
Schroders Investment Management

More generally, our graduates find employment in roles such as business and financial analysts, management consultants, government officials, and economists for banks and other financial organisations.

We work with the University's Careers Services to help you find out about further work experience, internships, placements, and voluntary opportunities.

Entry requirements

UK entry requirements

A 2:2 degree in any discipline. Your degree must include at least one module in one of these subjects:

Economics
Maths
Statistics
Accounting
Business
Finance
Management

We will also consider applicants with any other 2:2 degree or above where there is one year's relevant work experience after graduating.

International & EU entry requirements

We accept a wide range of qualifications from applicants studying in the EU and other countries. Get in touch with any questions you may have about the qualifications we accept. Remember to tell us about the qualifications you have already completed or are currently taking.

Sorry, the entry requirements for the country that you have selected are not available here. Please contact our Graduate Admissions team at pgquery@essex.ac.uk to request the entry requirements for this country.

English language requirements

If English is not your first language, we require IELTS 6.0 overall with a minimum score of 5.5 in all components.

If you do not meet our IELTS requirements then you may be able to complete a pre-sessional English pathway that enables you to start your course without retaking IELTS.

Additional Notes

The University uses academic selection criteria to determine an applicant’s ability to successfully complete a course at the University of Essex. Where appropriate, we may ask for specific information relating to previous modules studied or work experience.

Structure

Course structure

Our research-led teaching is continually evolving to address the latest challenges and breakthroughs in the field. The following modules are based on the current course structure and may change in response to new curriculum developments and innovation.

We understand that deciding where and what to study is a very important decision for you. We'll make all reasonable efforts to provide you with the courses, services and facilities as described on our website and in line with your contract with us. However, if we need to make material changes, for example due to significant disruption, we'll let our applicants and students know as soon as possible.

Components and modules explained

Components

Components are the blocks of study that make up your course. A component may have a set module which you must study, or a number of modules from which you can choose.

Each component has a status and carries a certain number of credits towards your qualification.

Status	What this means
Core	You must take the set module for this component and you must pass. No failure can be permitted.
Core with Options	You can choose which module to study from the available options for this component but you must pass. No failure can be permitted.
Compulsory	You must take the set module for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Compulsory with Options	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.
Optional	You can choose which module to study from the available options for this component. There may be limited opportunities to continue on the course/be eligible for the qualification if you fail.

The modules that are available for you to choose for each component will depend on several factors, including which modules you have chosen for other components, which modules you have completed in previous years of your course, and which term the module is taught in.

Modules

Modules are the individual units of study for your course. Each module has its own set of learning outcomes and assessment criteria and also carries a certain number of credits.

In most cases you will study one module per component, but in some cases you may need to study more than one module. For example, a 30-credit component may comprise of either one 30-credit module, or two 15-credit modules, depending on the options available.

Modules may be taught at different times of the year and by a different department or school to the one your course is primarily based in. You can find this information from the module code. For example, the module code HR100-4-FY means:

100

The department or school the module will be taught by.

In this example, the module would be taught by the Department of History.

The module number.

The UK academic level of the module.

A standard undergraduate course will comprise of level 4, 5 and 6 modules - increasing as you progress through the course.

A standard postgraduate taught course will comprise of level 7 modules.

A postgraduate research degree is a level 8 qualification.

The term the module will be taught in.

AU: Autumn term
SP: Spring term
SU: Summer term
FY: Full year
AP: Autumn and Spring terms
PS: Spring and Summer terms
AS: Autumn and Summer terms

COMPONENT 01: COMPULSORY

Decisions, Markets and Information

(20 CREDITS)

The module offers an introduction to microeconomic theory for students with little or no previous background in economics. The module will focus on the foundations of microeconomic theory: consumer theory, producer theory, and game theory. The module will complement the theory with case studies, applications, and policy-relevant debates that are relevant for business and management.

View Decisions, Markets and Information on our Module Directory

COMPONENT 02: COMPULSORY

Quantitative Economics

(20 CREDITS)

This module offers an introduction to econometrics for students with little or no previous background in economics. The module will focus on the fundamentals of probability, statistics, and regression analysis. The module will complement the theory with case studies, applications, and policy-relevant debates that are relevant for business and management.

View Quantitative Economics on our Module Directory

COMPONENT 03: COMPULSORY

Industrial Organisation

(20 CREDITS)

The module offers an introduction to industrial organisation for students with little or no previous background in economics. The module will focus on the strategies and conduct of firms in different market structures: perfect competition, monopoly, and oligopoly. The module will complement the theory with case studies, applications, and policy-relevant debates that are relevant for business and management.

View Industrial Organisation on our Module Directory

COMPONENT 04: COMPULSORY

Capstone Project Preparation

(0 CREDITS)

This is the module code for the capstone project, which can take a variety of forms. The capstone project requires the student to prepare a research output by conducting independent study on a particular topic. In that sense, it is comparable to a dissertation. However, the capstone project offers greater flexibility in terms of the type of research output that is submitted for assessment (i.e., extended literature review, traditional dissertation, blog post, policy memo, podcast).

View Capstone Project Preparation on our Module Directory

COMPONENT 01: CORE

Capstone Project

(40 CREDITS)

View Capstone Project on our Module Directory

COMPONENT 02: COMPULSORY

Economics of Incentives

(20 CREDITS)

What compensation should CEOs get? How can you motivate team performance? What impact does an altruistic manager make? Study real-world issues like policymaking, finance and management using economic models from contract theory, incentive theory, and the theory of the firm.

View Economics of Incentives on our Module Directory

COMPONENT 03: OPTIONAL

(60 CREDITS)

Teaching

Postgraduate students in the Department of Economics typically attend a two-hour lecture and a one-hour class or lab for each module per week.
Core components can be combined with optional modules to enable you to gain either in-depth specialisation or a breadth of understanding across several topics
Our postgraduates are encouraged to attend conferences and seminars

Assessment

Each module is assessed with a final examination and a coursework component
Coursework is taken in the form of a term paper or a midterm test

Dissertation

You undertake an individually supervised research project that involves the in-depth study of a specific economic problem or issue

Fees and funding

Home/UK fee

£14,300

International fee

£22,400

Masters fees and funding information

Research (e.g. PhD) fees and funding information

What's next

We hold Open Days for all our applicants throughout the year. Our Colchester Campus events are a great way to find out more about studying at Essex, and give you the chance to:

tour our campus and accommodation
find out answers to your questions about our courses, student finance, graduate employability, student support and more
meet our students and staff

If the dates of our organised events aren’t suitable for you, feel free to get in touch by emailing tours@essex.ac.uk and we’ll arrange an individual campus tour for you.

2024 Open Days (Colchester Campus)

Saturday 16 November 2024 - Mini Open Day

Find out more

You can apply for this postgraduate course online. Before you apply, please check our information about necessary documents that we'll ask you to provide as part of your application.

We aim to respond to applications within two weeks. If we are able to offer you a place, you will be contacted via email.

For information on our deadline to apply for this course, please see our ‘how to apply' information.

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Set within 200 acres of award-winning parkland - Wivenhoe Park and located two miles from the historic city centre of Colchester – England's oldest recorded development. Our Colchester Campus is also easily reached from London and Stansted Airport in under one hour.

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If you live too far away to come to Essex (or have a busy lifestyle), no problem. Our 360 degree virtual tour allows you to explore the Colchester Campus from the comfort of your home. Check out our accommodation options, facilities and social spaces.

At Essex we pride ourselves on being a welcoming and inclusive student community. We offer a wide range of support to individuals and groups of student members who may have specific requirements, interests or responsibilities.

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The University makes every effort to ensure that this information on its programme specification is accurate and up-to-date. Exceptionally it can be necessary to make changes, for example to courses, facilities or fees. Examples of such reasons might include, but are not limited to: strikes, other industrial action, staff illness, severe weather, fire, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack (whether declared or not), natural disaster, restrictions imposed by government or public authorities, epidemic or pandemic disease, failure of public utilities or transport systems or the withdrawal/reduction of funding. Changes to courses may for example consist of variations to the content and method of delivery of programmes, courses and other services, to discontinue programmes, courses and other services and to merge or combine programmes or courses. The University will endeavour to keep such changes to a minimum, and will also keep students informed appropriately by updating our programme specifications. The University would inform and engage with you if your course was to be discontinued, and would provide you with options, where appropriate, in line with our Compensation and Refund Policy.

The full Procedures, Rules and Regulations of the University governing how it operates are set out in the Charter, Statutes and Ordinances and in the University Regulations, Policy and Procedures.